Medicover AB (publ) Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Medicover AB (publ) stock downgraded from Buy Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on May 28, 2024)
The Medicover AB (publ) stock price fell by -0.735% on the last day (Tuesday, 28th May 2024) from kr190.40 to kr189.00. During the last trading day the stock fluctuated 2.43% from a day low at kr189.00 to a day high of kr193.60. The price has fallen in 6 of the last 10 days and is down by -3.47% for this period. Volume has increased on the last day by 20 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 50 thousand shares were bought and sold for approximately kr9.48 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 48.28% during the next 3 months and, with a 90% probability hold a price between kr229.03 and kr305.29 at the end of this 3-month period.
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MCOV-B.ST Signals & Forecast
The Medicover AB (publ) stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately kr192.43. On a fall, the stock will find some support from the long-term average at approximately kr166.58. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -3.96%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Medicover AB (publ) stock
On the downside, the stock finds support just below today's level from accumulated volume at kr173.60 and kr172.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Medicover AB (publ) finds support just below today's level at kr173.60. If this is broken, then the next support from accumulated volume will be at kr172.00 and kr161.00.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved kr4.60 between high and low, or 2.43%. For the last week, the stock has had daily average volatility of 2.23%.
Our recommended stop-loss: kr181.72 (-3.85%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (MCOV-B.ST) For The Upcoming Trading Day Of Wednesday 29th
For the upcoming trading day on Wednesday, 29th we expect Medicover AB (publ) to open at kr190.53, and during the day (based on 14 day Average True Range), to move between kr183.71 and kr194.29, which gives a possible trading interval of +/-kr5.29 (+/-2.80%) up or down from last closing price. If Medicover AB (publ) takes out the full calculated possible swing range there will be an estimated 5.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr191.00 (1.06%) than the support at kr173.60 (8.15%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Medicover AB (publ) stock A Buy?
Medicover AB (publ) holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.669 Hold/Accumulate Downgraded
Predicted Opening Price for Medicover AB (publ) of Wednesday, May 29, 2024
| Fair opening price May 29, 2024 | Current price |
|---|---|
| kr190.53 ( 0.81%) | kr189.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MCOV-B.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 195.13 | 3.25 % | |
| R2 | 193.38 | 2.32 % | ||
| R1 | 192.29 | 1.74 % | ||
| Current price: | 189.00 | |||
| Support | S1 | 188.78 | -0.118 % | |
| S2 | 187.69 | -0.693 % | ||
| S3 | 185.93 | -1.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 196.80 | 4.13 % | |
| R2 | 195.80 | 3.60 % | ||
| R1 | 191.00 | 1.06 % | ||
| Current price | 189.00 | |||
| Support | S1 | 173.60 | -8.15% | |
| S2 | 172.00 | -8.99% | ||
| S3 | 161.00 | -14.81% |
MCOV-B Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | Apr 29, 2024 | May 06, 2024 | kr1.36 | 0.741% |
| 2 | Apr 28, 2023 | Apr 28, 2023 | Apr 28, 2023 | kr0.120 | 0.0710% |
| 3 | Apr 28, 2022 | Apr 28, 2022 | Apr 28, 2022 | kr0.120 | 0.0727% |
| 4 | Apr 30, 2021 | Apr 30, 2021 | Apr 30, 2021 | kr0.0700 | 0.0289% |
FAQ
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